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Innovator ETFs Enters Agreement to Manage the Elkhorn Lunt Low Vol/High Beta Tactical and Elkhorn S&P High Quality Preferred ETFs
April 3, 2018--Innovator Capital Management, LLC (Innovator) today announced an interim investment advisory agreement whereby Innovator will replace Elkhorn Investments as the investment adviser to the Elkhorn Lunt Low Vol/High Beta Tactical ETF (LVHB) and Elkhorn S&P High Quality Preferred ETF (EPRF), effective as of April 1, 2018.
"We are very pleased to be adding two high quality ETF strategies that expand our range of investor solutions," said Bruce Bond, Chief Executive Officer of Innovator Capital Management. "The Elkhorn Lunt Low Vol/High Beta Tactical ETF (LVHB) represents a very unique investment exposure and is a great complement to our existing ETF product suite. We look forward to working closely with the Lunt team to create greater awareness for LVHB."
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Source: Innovator Capital Management, LLC
Elkhorn Announces Changes to its ETFs
April 3, 2018-Elkhorn ETFs today announced changes to its suite of ETFs. The previously announced merger transaction between Elkhorn Investments, LLC ("Elkhorn Investments"), the investment adviser to the Elkhorn ETFs, and Veracen Investments Holdings LP ("Veracen"), in which Veracan would acquire Elkhorn Investments, has not closed as of March 31, 2018.
The Board of Trustees (the "Board") of Elkhorn ETF Trust (the "Trust") did not renew the investment advisory contracts with Elkhorn Investments which expired on that date, and took the following actions:
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Source: Elkhorn
OppenheimerFunds Celebrates Ten Years of Revenue Weighted ETFs
April 3, 2018--OppenheimerFunds, a leading global asset manager, is pleased to announce the ten-year anniversary of its three flagship Revenue Weighted ETFs:
Oppenheimer Large Cap Revenue ETF (RWL)
Oppenheimer Mid Cap Revenue ETF (RWK)
Oppenheimer Small Cap Revenue ETF (RWJ)
Sharon French, Head of Beta Solutions, OppenheimerFunds, said, "Having RWL, RWK and RWJ reach their ten-year anniversary is a very significant milestone, given how new the product category is and how few Smart Beta ETFs have similar long-term track records. More importantly, the ten-year rankings for the three strategies are all in the top quartile against all funds in their respective Morningstar categories."
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Source: OppenheimerFunds
Cboe Global Markets Reports March 2018 Trading Volume
April 3, 018--Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today reported March monthly trading volume and average revenue per contract (RPC)/net revenue capture data at www.cboe.com/monthlyvolrpc.
The data sheet "Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report" contains an overview of March statistics. Data sheets are available on an as reported and combined basis for 2017.
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Source: Cboe Global Markets, Inc.
U.S. escalates China trade showdown with tariffs on $50 billion in imports
April 3, 2018--The Trump administration on Tuesday raised the stakes in a growing trade showdown with China, targeting 25 percent tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing's intellectual property practices.
The U.S. tariff unveiling, representing about $50 billion of estimated 2018 imports and aimed at dealing a setback to China's efforts to upgrade its manufacturing base, drew an immediate condemnation from Beijing, along with a threat of retaliatory action.
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Source: Reuters
BNP Paribas and Janus Henderson complete transaction transferring Janus Henderson's US middle and back office operations to BNP Paribas
April 3, 2018--BNP Paribas Securities Services, a leading global custodian with over $11.3 trillion in assets under custody, and Janus Henderson Investors (NYSE:JHG) (ASX:JHG), today announced that Janus Henderson's middle and back office operations in the US have been transferred to BNP Paribas, marking a major expansion of the bank in the country.
The transaction was announced on November 9, 2017.
This transaction is part of BNP Paribas' 10-year strategic build-out of its Securities Services business in the US, and provides the bank with a proven US mutual fund administration and accounting platform.
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Source: BNP Paribas USA Inc.
AdvisorShares Weekly Market Review-Did Anyone Get The License Plate?
April 2, 2018--Highlights of the Week Ending 3/30/2018
Macro
Volatility finally came back this quarter starting in late January. The year started with a bang as the three major indexes had gains in the high single digits when they all peaked on January 26th. Then as the short volatility trade ended markets went on a roller coaster that persisted to the end of the quarter.
When the dust settled the Dow Jones Industrial Average fell 3.29%, the S&P 500 dropped 2.66%, the NASDAQ was only down three basis points and the Russell 2000 shed 1.49%. At the lows the S&P 500 was down 10% and from the January peak through to March 29 the decline was 7.45%. The last time there was a negative quarter was Q3 2015 and 19 of the last 20 quarters have been up.
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Source: AdvisorShares
Wall Street suffers correction for second time this year
April 2, 2018--Investors started the second quarter on a sour note as a more than 2 per cent drop dragged Wall Street back into correction territory and below key fundamental levels, while bond yields dropped to a two-month low.
Further steep falls for tech stocks-including Amazon, Tesla and Intel-saw the Nasdaq...
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Source: FT.com
VanEck Lowers Expense Ratio for VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC)
March 29, 2018--VanEck announced today that it is lowering the expense ratio for its
VanEck Vectors(R)J.P. Morgan EM Local Currency Bond ETF (NYSE Arca: EMLC
(R)).
Effective March 29, 2018, the expense cap for EMLC will be reduced from 0.44% to 0.42% 1. EMLC seeks to track the J.P.
Morgan GBI-EMG Core Index, which is comprised of bonds issued by emerging markets governments and
denominated in the local currency of the issuer.
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Source: VanEck
Harvest Portfolios Group Inc. Announces Listing of Harvest Banks & Buildings Income ETF
March 29, 2018--Harvest Portfolios Group Inc. ("Harvest") is pleased to announce the completion of the initial offering of Class A Units of the Harvest Banks & Buildings Leaders Income ETF, pursuant to a prospectus dated January 26, 2018, filed with the securities regulatory authorities in all of the Canadian provinces and territories.
The Class A Units of the Harvest Banks & Buildings Leaders Income ETF will commence trading on the Toronto Stock Exchange ("TSX") today under the following ticker symbol: HCBB:TSX.
The Harvest Banks & Buildings Income ETF's investment objectives are to (i) generate monthly income; and (ii) maximize total returns by investing primarily in a portfolio of Banking Issuers, other Financial Issuers and real estate related companies and/or REITs listed on a recognized stock exchange in North America.
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Source: Harvest Portfolios Group Inc.
